Wells Fargo blazing a trail in Asia

Wells Fargo Global Fund Services has secured deals with two Asian based firms to provide fund administration services as it continues to expand its presence in the region.

Singapore-based investment manager and subsidiary SRE Capital and Hong Kong-based equity hedge fund manager HOBA Global investors have both selected Wells Fargo.

This latest news follows February’s announcement that Hong Kong based Modus Asset Management had also selected Wells Fargo.

Working with HOBA, Wells Fargo will provide fund administration services for its Asia fundamental long short equity master fund.

“HOBA’s decision to award us this new mandate demonstrates our strength in the global marketplace and our dedication to supporting client requirements,” said Celia Choh, Wells Fargo global fund services’ senior vice president, regional head of fund services, Asia.

As well as providing fund administration services, Wells Fargo will also provide SRE Capital with middle and back office operations.

“Wells Fargo Global Fund Services is well known for its expertise in administering real estate equity strategies,” said Stephen Finch, chief executive officer of SRE Capital.

“In addition, its outsourced operations team is able to support the full range of back office activities in our portfolios throughout the trade lifecycle, which helps us scale the business in a controlled manner.”